Late last night, Bloomberg reported that PayPal is interested in taking over the Bitcoin BitGo storage service.

The payment processor announced earlier this week that it will integrate the purchase and sale of Bitcoin and other cryptocurrencies. Now it appears that they are also interested in taking over (other) crypto companies.
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Bitcoin and Paypal

PayPal Holdings is currently investigating the possibilities for the acquisition of BitGo. They have reportedly already had a few conversations with the custodial. This company helps investors to securely store their Bitcoin.

Anonymous sources state that the deal should be completed within a few weeks. PayPal’s wish is clear, but the talks can still go wrong.

These same sources confirm that the payment processor could choose to take over another company if they can’t get closer.

But the intention is more than clear: PayPal wants to take Bitcoin’s side. Ironically, it said goodbye to Facebook’s private initiative last year. They are no longer part of the Libra consortium, so they are now fully committed to Bitcoin.

Save Crypt Currency

The day before yesterday, Reuters also reported that U.S. customers of the multi-billion dollar company can use various services to buy, sell and also store Bitcoin ‚within weeks‘. As part of this move, they are partnering with Paxos.

As an indication: PayPal has 346 million active users and processed $222 billion in transactions in the second quarter of this year. It is a huge player in the world of online payments and they now have their eyes on the industry.

However, the payment giant also confirmed that customers will not be able to withdraw their money into their own wallet. It doesn’t look like BitGo is going to add this functionality, as it just got approval this year to act as a regulated custodial. They focus on keeping Bitcoin for institutional clients, not individuals.

BitGo has reportedly raised approximately $58.5 million over the past two years, making the company now valued at approximately $170 million. The custodian has received support from Digital Currency Group and Galaxy Digital Ventures, among others.

Il mercato è in difficoltà, ma Bitcoin rimane stabile.

Praticamente tutte le principali criptovalute sono in rosso oggi a seguito di un’improvvisa svendita di mercato la scorsa notte

La capitalizzazione di mercato totale di tutte le criptovalute è scesa da $ 346 miliardi a $ 339 miliardi durante la notte, rappresentando una perdita media del 2,1% per criptovaluta.

Sebbene la maggior parte delle criptovalute sia in perdita oggi, Bitcoin Bank è andata meglio della maggior parte, avendo perso solo l’1% nelle ultime 24 ore per tornare a $ 10.610. Come risultato della sua relativa stabilità in un mercato criptato in declino, Bitcoin ha visto il suo dominio sul mercato migliorare leggermente nelle ultime settimane, migliorando dal 57,8% al 58,7% nell’ultimo mese.

La tua dose quotidiana di notizie, apprendimento, pettegolezzi e discussioni sulle criptovalute

Anche Bitcoin Cash (BCH) e Bitcoin SV (BSV) hanno sovraperformato il mercato, avendo perso rispettivamente solo lo 0,6% e il 2% nell’ultimo giorno. Polkadot (DOT) e Chainlink (LINK) sono oggi le peggiori performance tra le prime dieci criptovalute, avendo perso il 6,4% ciascuna da ieri. DOT è ora scambiato a $ 3,81, il suo valore più basso dalla fine di agosto, ed è in ribasso dal 1 ° settembre, perdendo il 43,9% da allora.

A seguito di questa recente azione sui prezzi, 9 delle prime 10 criptovalute per capitalizzazione di mercato sono in perdita contro BTC, con Polkadot in calo di più nell’ultima settimana, mentre Chainlink è in calo di più nell’ultimo mese.

Questa recente azione ribassista sui prezzi è avvenuta pochi minuti dopo che il presidente degli Stati Uniti Donald Trump ha deluso le speranze di un altro salvataggio del mercato, respingendo la richiesta della deputata Nancy Pelosi per una legge di stimolo da 2,4 trilioni di dollari volta a iniettare liquidità nell’economia statunitense in difficoltà. Ciò sembra anche aver scatenato una svendita del mercato azionario panico, con la maggior parte dei principali indici azionari statunitensi che sono caduti poco dopo il tweet.

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KuCoin saves $ 204 million

By cooperating with KuCoin with crypto projects, a large part of the hacked cryptocurrencies and tokens could either be frozen or devalued. It is therefore no longer possible to sell them on the market.

Despite the drastic measures for which – some crypto projects were criticized for reasons of centralization – the hackers were able to launder 13 million US dollars through decentralized exchanges (DEX) alone . Since these exchanges are not subordinate to any authority, they are beyond any control and offer an almost perfect environment for money laundering activities.

It was announced that KuCoin can compensate for the damage, but so far there is no evidence of this.

While much of the hacked money has been found, the $ 64 million plus the $ 13 million that has already been „laundered“ is still an enormous sum.

Who are the perpetrators and what’s next?

According to a tweet from Johnny Lyu, the CEO of KuCoin, the perpetrators of the hack are known and have been identified based on the traces left behind. KuCoin also published a list of suspicious addresses associated with the hack.

However, this information is difficult to verify. Cases from the past have shown again and again that it is hardly possible to catch hackers from crypto exchanges.

So some of the recent statements made by the KuCoin team could simply be used to restore customer confidence. While the latest developments make KuCoin more likely to recover, no one can say for sure whether the company will recover completely.

Permanent damage to trust could have serious consequences for the long-term success of KuCoin. There is a risk that customers will throw an exodus and withdraw their fortune from KuCoin.